Envestnet Asset Management Inc. boosted its holdings in shares of First American Financial Co. (NYSE:FAF – Free Report) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,094 shares of the insurance provider’s stock after purchasing an additional 12,901 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of First American Financial worth $6,791,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in FAF. Point72 Hong Kong Ltd bought a new stake in shares of First American Financial in the 2nd quarter worth approximately $36,000. Ellevest Inc. lifted its position in shares of First American Financial by 76.1% in the 1st quarter. Ellevest Inc. now owns 745 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 322 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of First American Financial in the 1st quarter worth approximately $46,000. Industrial Alliance Investment Management Inc. lifted its position in shares of First American Financial by 161.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 571 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in shares of First American Financial in the 1st quarter worth approximately $55,000. Institutional investors own 85.53% of the company’s stock.
Wall Street Analyst Weigh In
FAF has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $72.00 price objective on shares of First American Financial in a research report on Wednesday, October 11th. StockNews.com downgraded First American Financial from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Truist Financial raised their target price on First American Financial from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Barclays assumed coverage on First American Financial in a research report on Wednesday. They set an “equal weight” rating and a $53.00 target price for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, First American Financial presently has a consensus rating of “Hold” and an average target price of $65.75.
Insiders Place Their Bets
In other First American Financial news, CAO Steven A. Adams sold 1,800 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $56.20, for a total value of $101,160.00. Following the transaction, the chief accounting officer now owns 7,487 shares of the company’s stock, valued at $420,769.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.60% of the company’s stock.
First American Financial Price Performance
First American Financial stock opened at $56.86 on Friday. The company has a market capitalization of $5.87 billion, a PE ratio of 25.05 and a beta of 1.25. First American Financial Co. has a one year low of $49.55 and a one year high of $64.66. The business has a 50 day simple moving average of $54.90 and a 200 day simple moving average of $57.26.
First American Financial (NYSE:FAF – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.60 billion. First American Financial had a return on equity of 9.82% and a net margin of 3.78%. The business’s revenue was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Equities analysts anticipate that First American Financial Co. will post 4.23 earnings per share for the current fiscal year.
First American Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, December 7th. First American Financial’s dividend payout ratio is currently 93.39%.
About First American Financial
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
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